LONDON (AP) — Mortgage lending in Britain was down 44 percent in October compared to a year ago, further evidence the economic downturn is hurting an already weak property market, the Council of Mortgage Lenders said yesterday.

Gross mortgage lending last month totaled £18.7 billion ($27.8 billion), down from 33.4 billion in October of 2007, the report said.

Banks reacting to a global credit crunch have tightened up on lending, requiring larger deposits and higher rates of interest which have frozen many potential buyers out of the housing market. That in turn has added to downward pressure on house prices.

The report said mortgage lending in October was actually 7 percent higher than in September, when it tallied at a very weak £17.5 billion.

But Michael Coogan, director general of the council, warned against taking the month-on-month upswing, which is influenced by seasonal fluctuations, as a sign that the mortgage market was strengthening.

"The outlook is one of continuing weakness for housing and mortgage markets in the coming months," he said. "Consumer confidence is now being affected by the worsening economic outlook."